Given the big drop in the futures market the next step is trying to determine where may be a good idea to focus on as support. I’m bearish on the markets and believe we have the potential to fall a lot, but before we get to “a lot” we have to take baby steps and analyze the moves that happen along the way.

The 2975 seems like a good level of support confluence to watch for the Nasdaq and the 12800-13k is a level I”ll be watching on the Dow to see if we bounce or close near those lows.